Isle of Wight County Press Online

Cash flows to Island

By Richard Wright

Wednesday, February 1, 2012

 

A £1.1 MILLION boost to the Isle of Wight has been handed out by government as part of its attempt to stimulate the economy.

In addition, the government has announced the new Solent Local Enterprise Partnership will be given more than £12.2 million.

To what extent the Island will benefit from that grant to the regional successor to the South East England Development Agency will not be known for some time.

The grant to Solent LEP is part of £500 million handed out by government to 38 LEPs under the Growing Places Fund to boost economic growth. It is designed to encourage companies to invest.

Added to that is the second tranche of New Homes Bonus funding of £432 million, of which the Isle of Wight Council gets £1,142,357 to build affordable homes.

Reporter: richardw@iwcpmail.co.uk

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by Don Prescott

3rd February 2012, at 09:25:06

Spot on David, but you will not persuade those who continually moan about lack of jobs, infrastructure, dentists etc. etc., but who see the building of homes, sorry "affordable homes", as the very basis for a fair society. All it does is shift housing problems from the North island to here in return for what amounts to a bung, but is termed an "incentive" or "grant". The only losers are island youngsters, who can neither find work or homes.
An old ex-councillor I know is always banging on about "grant funding" as though there is some "grant funding" tree in Whitehall.
There isn't. It is our money usually given to those idiots in Brussels, who then give us back about 20p in the £1 and we are supposed to be grateful. We should cut out the middleman and fund our own kids into employment!

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by David Shoulder

2nd February 2012, at 08:59:09

The New Homes Bonus on the face of it is good to receive. However the reality is it is a reward for building too many houses on the Island. We neither have the jobs (or prospect of them) or the infrastructure to sustain them. The reality will be a static, benefit fuelled culture which is and will drain Island resources. The Island is in decline and will continue to be so if short termist policies continuallyand fundamentally undermine the things that make the IOW a special place and somewhere worth visiting.

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by Barry Lewis

2nd February 2012, at 08:56:34

I wonder how much of this money is filtered away by those administering it, etc along the way on unnecessary jobs, cars, allowances, stationary, etc...

Any views or opinions presented in the comments above are solely those of the author and do not represent those of the Isle of Wight County Press.

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